Capri (NYSE:CPRI) Stock Rating Lowered by Zacks Investment Research

Capri (NYSE:CPRIGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday, Zacks.com reports. They currently have a $52.00 target price on the stock. Zacks Investment Research‘s price target would indicate a potential upside of 2.54% from the stock’s previous close.

According to Zacks, “Shares of Capri Holdings have outperformed the industry in the past six months. The company has constantly been deploying resources to expand product offerings, upgrade distribution infrastructure, create seamless omni-channel capabilities and deepen engagement with customers. The company has been reinforcing its position in the luxury fashion space, and looks to maximize the potentials of Versace, Jimmy Choo and Michael Kors brands through expanded products and categories. Capri Holdings reported better-than-anticipated third-quarter fiscal 2022 results, wherein both the top and the bottom lines grew year on year. Impressively, management raised fiscal year revenues and earnings per share view. However, product cost inflation, tight labor market and supply chain bottlenecks are some of the challenges the company is currently facing.”

CPRI has been the subject of a number of other research reports. StockNews.com cut shares of Capri from a “buy” rating to a “hold” rating in a research note on Thursday, April 7th. Robert W. Baird raised their price target on shares of Capri from $80.00 to $85.00 in a research note on Thursday, February 3rd. Credit Suisse Group lifted their target price on shares of Capri from $70.00 to $74.00 and gave the company a “neutral” rating in a research note on Thursday, February 3rd. Morgan Stanley raised their price target on Capri from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday, February 8th. Finally, OTR Global cut Capri to a “positive” rating in a report on Wednesday, January 26th. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $77.11.

CPRI stock opened at $50.71 on Tuesday. Capri has a twelve month low of $45.05 and a twelve month high of $72.37. The company has a market cap of $7.49 billion, a PE ratio of 14.05, a price-to-earnings-growth ratio of 0.13 and a beta of 2.41. The business’s 50-day simple moving average is $58.31 and its 200 day simple moving average is $58.84. The company has a quick ratio of 0.62, a current ratio of 1.18 and a debt-to-equity ratio of 0.35.

Capri (NYSE:CPRIGet Rating) last released its earnings results on Wednesday, February 2nd. The company reported $2.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.54. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.47 billion. Capri had a return on equity of 34.22% and a net margin of 10.41%. The firm’s revenue for the quarter was up 23.6% compared to the same quarter last year. During the same period last year, the business earned $1.65 earnings per share. On average, equities research analysts anticipate that Capri will post 6 EPS for the current year.

In other news, CEO John D. Idol sold 72,397 shares of Capri stock in a transaction that occurred on Thursday, February 10th. The shares were sold at an average price of $70.39, for a total value of $5,096,024.83. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Daniel Purefoy sold 1,950 shares of Capri stock in a transaction that occurred on Thursday, March 10th. The shares were sold at an average price of $50.80, for a total transaction of $99,060.00. The disclosure for this sale can be found here. Insiders have sold a total of 86,438 shares of company stock worth $6,004,094 over the last 90 days. Corporate insiders own 2.70% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Counterpoint Mutual Funds LLC acquired a new stake in shares of Capri in the fourth quarter valued at approximately $27,000. Sageworth Trust Co of South Dakota bought a new position in shares of Capri in the fourth quarter valued at $34,000. Ninety One SA PTY Ltd bought a new position in shares of Capri in the third quarter valued at $41,000. National Bank of Canada FI bought a new position in shares of Capri in the fourth quarter valued at $43,000. Finally, UMB Bank N A MO bought a new position in shares of Capri in the fourth quarter valued at $59,000. Institutional investors own 86.75% of the company’s stock.

About Capri (Get Rating)

Capri Holdings Ltd. operates as a global fashion luxury group. It engages in the design and distribution of sportswear, accessories, footwear and apparel of branded women’s apparel and accessories and men’s apparel. The firm operates through the following segments: Versace, Jimmy Choo, and Michael Kors.

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